A survey under Section 133A of the Income Tax Act, 1961 is a legal procedure allowing income-tax authorities...
1. Dividend Declaration vs. Retained Earnings
Dividends:
Taxable in shareholders’ hands (10%...
1. Rationalization of provisions of TDS on sale of immovable property [Section 194-IA amended w.e.f....
Section 10(1) of the Income Tax Act, 1961, provides a full exemption for agricultural income, meaning...
1. Covered Entities (Section 10(23C))
The following enjoy 100% tax exemption on their income:
Funds/institutions...
To promote digital transactions, the Income Tax Act mandates certain businesses to compulsorily accept...
Section 234G of the Income Tax Act, 1961, imposes a late fee on institutions, trusts, or funds that fail...
The Deduction and Collection of Tax at Source (TDS/TCS) provisions under the Income Tax Act, 1961 are...
Section 285BB of the Income Tax Act, 1961, mandates the Income Tax Department to provide taxpayers with...
Section 192A of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on premature withdrawals...
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi,...
The article you’re viewing discusses significant changes to the regulations governing Charitable Trusts...
Section 54B of the Income Tax Act, 1961, provides a tax exemption on capital gains arising from the transfer...
As already discussed, motor car/other vehicles, provided by the employer, is a perquisite only for specified...
The Income Tax Act, 1961 contains provisions related to search, seizure, survey, and special procedures...
Section 140 of the Income Tax Act, 1961 specifies who must verify the return of income and the authorized...
The “Full Value of Consideration” (FVC) is the total amount received or receivable when a...
Section 194M of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on certain payments made...
Section 43B of the Income Tax Act, 1961 is a crucial provision that disallows certain expenses unless...
Section 18 of the Central Goods and Services Tax (CGST) Act, 2017, deals with the availability and eligibility...